Ankündigung • Mar 16
Bain Capital Private Equity, LP entered into a binding agreement to acquire Perpetual PWM Services PTY Ltd from Perpetual Limited (ASX:PPT) for AUD 550 million on a cash and debt free basis. Bain Capital Private Equity, LP entered into a binding agreement to acquire Perpetual PWM Services PTY Ltd from Perpetual Limited (ASX:PPT) for AUD 550 million on a cash and debt free basis on March 16, 2026. The total consideration elements comprise an upfront cash payment at completion of AUD 500 million (subject to adjustments for regulatory capital, working capital and other customary adjustments relating to the Wealth Management business as at completion), a potential additional upfront cash payment at completion based on the performance of the advice business prior to completion and an earn out payment of up to AUD 50 million, relating to the performance of the Accounting and Wealth operations of the Wealth Management business following completion, which will be tested and payable two years following completion. As part of the Transaction, Perpetual will licence the brands “Perpetual Wealth” and “Perpetual Private” to the Perpetual Wealth Management Group for a period of 15 years. Perpetual will continue to own all rights in the “Perpetual” brand. Net cash proceeds from the Transaction will be used to reduce debt and support investment in organic growth in the Asset Management and Corporate Trust businesses. The sale agreement includes certain termination rights, including for non-satisfaction of the above conditions or due to the occurrence of one or more events that would, or be reasonably expected to, materially adversely impact FY26 or FY27 earnings of the Perpetual Wealth Management Group. Under the sale agreement, Perpetual will retain responsibility for certain pre-completion matters and will provide protection to Bain Capital and the Perpetual Wealth Management Group in relation to those precompletion matters via indemnities.
Completion of the Transaction is subject to the following conditions: Bain Capital obtaining FIRB and ACCC approvals; and Perpetual completing the corporate restructure (and other associated activities) required to separate the Wealth Management business from the broader Perpetual Group and its asset management and corporate trustee services businesses. Implementation of the restructure to create the Perpetual Wealth Management Group will require (amongst other matters) regulatory relief and approvals from ASIC and Court orders to facilitate the transfer of certain assets, liabilities and undertakings relating to the Wealth Management business, including by way of schemes of arrangement under Part 5.1 of the Corporations Act, and Ministerial consent to the change in control of the Wealth Management traditional trustee business. The current intention of the parties is to complete the Transaction towards the end of the 2026.
King & Wood Mallesons acted as legal advisor for Perpetual Limited. Barrenjoey Capital Partners acted as financial advisor for Perpetual Limited. Noah Obradovic, Lachlan Martin, Jack Shanahan, Simun Soljo, Kerensa Sneyd, Michael Mathieson, David Couper, Jessica Mottau, Tracy Lu, Annabelle Aland, Chloe Wilton, Dora Banyasz, Felicity McMahon, Konrad Stilin, Michael Mathieson, Angelina Mihaylova, Aveline Orban and Andrew Wong of Allens acted as legal advisor for Bain Capital Private Equity, LP. Ankündigung • Feb 26
Perpetual Limited Announces Ordinary Unfranked Dividend for the Six Months Ended December 31, 2025, Payable on 7 April, 2026 Perpetual Limited announced ordinary unfranked dividend of AUD 0.59000000 per security for the six months ended December 31, 2025. Payment Date: 7 April, 2026. Ex Date: 12 March, 2026. Record Date: 13 March, 2026. Ankündigung • Nov 06
Bain Capital Reportedly in Talks to Acquire Perpetual’s Wealth Management Unit Australian asset manager, Perpetual Limited (ASX:PPT) is in talks with Bain Capital, LP over a potential sale of its USD 14 billion wealth-management business to the U.S. private-equity firm. Perpetual said that it had entered into an exclusivity deed with Boston-based Bain Capital. The ASX-listed company cautioned that there is no certainty a binding agreement will be reached or that any transaction will proceed. Bain Capital declined to comment. Ankündigung • Aug 21
Perpetual Limited Provides Impairment Guidance for the Full Year Ended June 30, 2025 Perpetual Limited provided impairment guidance for the full year ended June 30, 2025. The company has completed its impairment testing for the year to 30 June 2025 and expects to recognize a non-cash impairment charge of approximately $153.7 million, pre-tax, in its financial results for the full year ended 30 June 2025 (subject to completion of the audit process). The non-cash charge includes an additional impairment of $128.2 million for the second half of the financial year, predominantly related to the carrying value of goodwill and customer contracts for the J O Hambro boutique within the Asset Management business. As previously announced in Perpetual's quarterly updates throughout fiscal year 2025, certain key J O Hambro strategies continued to experience greater than expected net outflows throughout fiscal year 2025. Ankündigung • Aug 09
Perpetual Limited, Annual General Meeting, Oct 23, 2025 Perpetual Limited, Annual General Meeting, Oct 23, 2025. Ankündigung • Jun 11
Perpetual Limited Announces Change of Chief Financial Officer, Effective 1 July 2025 Perpetual Limited announced the appointment of Suzanne Evans as Chief Financial Officer (CFO), succeeding Chris Green. Ms. Evans joins from First Sentier Investors where she held both CFO and strategy roles since 2017, including most recently as Chief Financial & Strategy Officer. Prior to that, she held senior executive roles at Lend Lease and Challenger Limited, including in investor relations, strategy and finance. Suzanne will take over from Chris Green, who has played a critical leadership role throughout his tenure at Perpetual, which spans nearly 20 years, initially as Chief Executive of Corporate Trust business, and in more recent years, as Perpetual's CFO. Chris has been a highly valued member of the executive team and a dedicated leader over a time of significant change. Ms. Evans will commence in the CFO role on 1 July 2025, and at that point Chris Green will move to an advisory role to support the transition and other strategic initiatives, finishing with Perpetual towards the end of the calendar year. Ankündigung • Mar 01
Perpetual Limited Announces Interim Unfranked Ordinary Dividend for First Half of 2025, Payable on 4 April 2025 The Board of Perpetual Limited announced an interim unfranked ordinary dividend for first half of 2025 of 61 cents per share, to be paid on 4 April 2025. This represents a payout ratio of 70% of 1 H2 5 UPAT. Record Date: March 14, 2025 and Ex Date: March 13, 2025. Ankündigung • Feb 25
Perpetual Commotion as Rival Groups Circle Wealth Business Oaktree Capital Management, L.P. and TA Associates, L.P., have been named as potential suitors of - Perpetual Limited (ASX:PPT)'s Wealth Management arm. The business is on the market after a deal to sell it to Kohlberg Kravis Roberts with Perpetual's Corporate Trust unit collapsed, with the pair unable to agree a price. TA Associates is known to have been searching for opportunities in the financial services space in Australia. However, sources say that the US-based buyout fund has -already looked at the division of Perpetual for a purchase but has opted to move on. Perpetual shareholder Soul Patts is also understood to have looked but cooled on the opportunity. Other potential suitors are JBWere Pty. Ltd., Crestone, Viridian and Koda Capital Pty Ltd, while groups such as Shaw and Partners Limited and Ord Minnett Limited cannot be discounted. Ankündigung • Oct 23
Perpetual Limited to Report First Half, 2025 Results on Feb 27, 2025 Perpetual Limited announced that they will report first half, 2025 results on Feb 27, 2025 Ankündigung • Sep 06
Perpetual Limited Announces Board Changes Perpetual Limited announced the appointment of Mr. Paul Ruiz as a Non-Executive Director, effective 9 September 2024. Mr. Ruiz will Chair Perpetual’s Audit, Risk & Compliance Committee (ARCC) following the expected retirement of Mr. Ian Hammond at Perpetual’s Annual General Meeting on 17 October 2024 in accordance with Perpetual’s Board rotation policy. Mr. Ruiz currently serves as a Non-Executive Director of TAL Dai-ichi Life Australia, one of Australia’s leading life insurers, where he chairs the Audit Committee. He previously served on the boards and chaired audit committees of AMA Group, the Financial Planning Association of Australia, the Fred Hollows Foundation and its controlled entity Alina Vision, as well as serving on a number of NSW Government audit and risk committees. Until 2016, Mr. Ruiz was an audit partner with KPMG. During his career, he specialised in the audit of financial services businesses and led the delivery of assurance services to a number of major financial services groups in Australia and internationally. Mr. Ruiz is a Fellow of the Institute of Chartered Accountants in England and Wales, a Graduate of the Australian Institute of Company Directors and also holds a BSc Economics. Ankündigung • Aug 06
Perpetual Limited, Annual General Meeting, Oct 17, 2024 Perpetual Limited, Annual General Meeting, Oct 17, 2024. Ankündigung • Jun 18
PYFA Australia Pty Ltd completed the acquisition of remaining 89.67% stake in Probiotec Limited (ASX:PBP). PYFA Australia Pty Ltd entered into a binding scheme implementation deed to acquire remaining 89.67% stake in Probiotec Limited (ASX:PBP) for approximately AUD 240 million on December 21, 2023. The transaction will be financed from combination of debt and direct or indirect equity contributions. The transaction is subject to regulatory approvals, approval by shareholders of PT Pyridam Farma Tbk and Probiotec Limited and court approvals. As of May 10, 2024, The deal has been approved by Foreign Investment Review Board. The transaction has been approved by the Federal Court of Australia. The transaction is expected to close on June 18, 2024. Canterbury Partners Pty Ltd acted as financial and Arnold Bloch Leibler and Soewito Suhardiman Eddymurthy Kardono acted as legal advisors to Probiotec Limited. Grant Samuel Group Limited and PT Mandiri Sekuritas acted as financial and Ashurst Australia and Armand, Yapsunto, Muharamsyah & Partners acted as legal advisor to PYFA Australia Pty Ltd. Boardroom Pty Limited acted as registrar to Probiotec Limited. Grant Thornton Corporate Finance Pty Ltd, Investment Banking Arm acted as financial advisor to Probiotec.
PYFA Australia Pty Ltd completed the acquisition of remaining 89.67% stake in Probiotec Limited (ASX:PBP) on June 18, 2024. Trading in Probiotec shares on ASX was suspended at the close of trading on June 5, 2024. Probiotec has applied for its removal from the official list of ASX with effect from the close of trading as on June 19, 2024. Jared Stringer and Andrew Phillips have been appointed as new Directors of Probiotec. Ankündigung • May 09
KKR & Co. Inc. (NYSE:KKR) agreed to acquire Wealth Management and Corporate Trust businesses of Perpetual Limited (ASX:PPT) for AUD 2.1 billion KKR & Co. Inc. (NYSE:KKR) agreed to acquire Wealth Management and Corporate Trust businesses of Perpetual Limited (ASX:PPT) for AUD 2.1 billion on May 8, 2024. BofA Securities and Goldman Sachs are acting as financial advisers on the transaction.
Luminis Partners is acting as independent advisers to the Board of Perpetual. Herbert Smith Freehills is acting as legal adviser to Perpetual Ankündigung • May 01
Perpetual Confirms Talks with KKR Perpetual Limited (ASX:PPT) is in exclusive talks with KKR & Co. Inc. (NYSE:KKR) on the sale of its corporate trust and wealth management businesses, with the global private equity giant a preferred bidder over a joint tilt from TA Associates and EQT. The Australian's DataRoom column first revealed that KKR was in talks for the Perpetual assets in December, with the private equity giant firming up as the favourite in recent weeks. Perpetual's shares jumped more than 3% on 29 April 2024, closing at $24.02. Perpetual has been running the sale process on its corporate trust and wealth management divisions for a number of months after it received a $3 billion bid from Soul Patts last year. Soul Patts is Perpetual's largest shareholder with about 12%. Perpetual's response to that proposal was that it undervalued its business. A strategic review of its operations, announced by Perpetual in December as it fobbed off Soul Patts' advances, was aimed at unlocking value from its corporate trust and wealth divisions following its $2.5 billion acquisition of rival Pendal Group earlier in 2023. Offloading the corporate trust and wealth arms would see Perpetual become a pure-play asset management offering. The wealth manager has beefed up this side of the business in recent years, including through bolt-on acquisitions Trillium and Barrow Hanley. But the asset management operation has endured its own challenges amid the flight to passive investing. In a quarterly update last week, Perpetual said it had suffered $5.2 billion in net outflows in the March quarter, with $2.2 billion flowing out from a single strategy. The bulk of the outflows - $3.5 billion - were pulled from boutique J O Hambro Capital Management, with its UK Dynamic strategy losing $2.2 billion over the three months after portfolio manager Alex Savvides left the group. There is no certainty of reaching a binding agreement with KKR, or that any transaction would proceed, Perpetual said, adding that any transaction would be subject to conditions including regulatory approvals. Exclusivity runs out on May 7, with Perpetual expected to provide an update by the following day. Luminis Partners, Bank of America and Goldman Sachs are advising Perpetual on the strategic review and sale process. KKR is advised by Jefferies. Ankündigung • Mar 21
PRM Services LLC made an offer to acquire remaining 88.54% stake in Sierra Rutile Holdings Limited (ASX:SRX) from Samuel Terry Absolute Return Fund managed by Samuel Terry Asset Management Pty Ltd, Perpetual Limited (ASX:PPT), Ecsson Investments Limited, Rockbridge Overseas Limited, Mano Mining And Logistics Limited, Assaad Yazbeck and Joseph Yazbeck for AUD 35.7 million. PRM Services LLC made an offer to acquire remaining 88.54% stake in Sierra Rutile Holdings Limited (ASX:SRX) from Samuel Terry Absolute Return Fund managed by Samuel Terry Asset Management Pty Ltd, Perpetual Limited (ASX:PPT), Ecsson Investments Limited, Rockbridge Overseas Limited, Mano Mining And Logistics Limited, Assaad Yazbeck and Joseph Yazbeck for AUD 35.7 million on March 20, 2023. PRM has offered to acquire all the shares of Sierra at AUD 0.095 per share. PRM already holds 11.46% of SRX Shares. The transaction will be funded from existing cash reserves held by PRM. Sierra Rutile Holdings Limited has recommended to take no action in relation to the on-market takeover offer. The Board of Sierra will consider the Offer and the Bidder's Statement and provide a recommendation to Sierra Rutile shareholders in due course. The deal is expected to close on May 5, 2024. Gadens is acting as the legal advisor to PRM Services LLC. Ankündigung • Mar 01
Perpetual Limited to Report Fiscal Year 2024 Results on Oct 31, 2024 Perpetual Limited announced that they will report fiscal year 2024 results on Oct 31, 2024 Ankündigung • Dec 06
Washington H. Soul Pattinson and Company Limited cancelled the acquisition of Perpetual Limited (ASX:PPT) for AUD 2.7 billion. Washington H. Soul Pattinson and Company Limited made an indicative proposal to acquire Perpetual Limited (ASX:PPT) for AUD 2.7 billion on November 21, 2023. The Indicative Proposal is subject to satisfactory completion of confirmatory due diligence by WHSP, the execution of transaction documentation and a unanimous recommendation from the Perpetual Board that shareholders vote in favor of the Indicative Proposal, as well as other customary conditions.
WHSP has appointed Macquarie Capital as its financial adviser and Ashurst as its legal adviser. BofA Securities and Goldman Sachs are acting as financial advisers with Herbert Smith Freehills acting as legal adviser to Perpetual.
Washington H. Soul Pattinson and Company Limited cancelled the acquisition of Perpetual Limited (ASX:PPT) on December 6, 2023. Perpetual Limited board has rejected the offer due to inadequate price offer. Ankündigung • Nov 03
Perpetual Limited Announces Executive Changes Perpetual Limited announced that Craig Squires has been appointed to the role of Chief Operating Officer and will take on an expanded role overseeing the integration program of Pendal Group. He will replace Amanda Gazal, Chief Integration Officer, who will be leaving the company, following a transition period, to take on a new external opportunity. Craig Squires is currently Deputy Chief Operating Officer. He joined Perpetual in early 2022 as Chief Technology Officer and has been attending the Executive Committee since January this year. He brings over 35 years' experience in financial services' IT development, project management, support and information security. Prior to joining Perpetual, Craig held senior roles with a number of financial services organizations including Challenger, Barclays Global Investors, MLC and Westpac. Ankündigung • Oct 19
Perpetual Limited Announces Board Changes Perpetual Limited (Perpetual Group) announced the appointment of Mr. Phil Wagstaff as a Non-Executive Director, effective 1 November 2023. Based in the United Kingdom, Mr. Wagstaff is a seasoned director and business leader with over 35 years' leadership experience across prominent UK and global asset managers. Mr. Wagstaff has served as a senior executive and board member for multiple leading asset managers, including Henderson PLC, Henderson Investment Funds Ltd, Gartmore Japan and M&G Limited. Between 2019 and 2022, Mr. Wagstaff was the Global Head of Distribution and Member of the Executive Committee at Jupiter Asset Management PLC, and prior to that was in similar roles at both Henderson Global Investors and Janus Henderson Investors. This appointment follows the retirement of Kathryn Matthews, a Pendal director who joined the Board following the acquisition of Pendal. Ankündigung • Sep 21
Perpetual Limited to Report First Half, 2024 Results on Feb 23, 2024 Perpetual Limited announced that they will report first half, 2024 results on Feb 23, 2024 Ankündigung • Jan 25
Perpetual Limited Announces Special Dividend for the Quarter Ended September 30, 2022, Payable on February 8, 2023 Perpetual Limited announced special dividend for the quarter ended September 30, 2022 of AUD 0.35000000 per share. Record date is January 10, 2023. Ex-date is January 9, 2023. Payment date is February 8, 2023. Ankündigung • Jan 23
Perpetual Limited Announces Board Changes Perpetual Limited announced that following completion of its acquisition of Pendal Group (Pendal), the foreshadowed appointments on 12 December 2022 of Kathryn Matthews and Christopher Jones to Perpetual's Board of Directors will take effect on 24 January 2023. As part of coming onto the Board, Kathryn will join the Board's Audit, Risk and Compliance Committee and Christopher will join the Board's People and Remuneration Committee. Both will also join the Board's Investment Committee. As part of the Board changes, existing Perpetual independent Non-Executive Director Craig Ueland will retire from the Board effective 24 January 2023. Craig has been a valued member of Perpetual's Board and was asked by the Board to stay on past the usual three terms and with the completion of the Pendal acquisition Craig feels it is an appropriate time to retire. Independent Non-Executive Director, Greg Cooper, replaces Craig as Chairman of the Board's Investment Committee. Ankündigung • Jan 13
Perpetual Limited (ASX:PPT) completed the acquisition of acquire Pendal Group Limited (ASX:PDL) from a group of shareholders. Perpetual Limited (ASX:PPT) entered into non-binding indicative proposal to acquire Pendal Group Limited (ASX:PDL) from a group of shareholders for AUD 2.6 billion on April 4, 2022. As per the transaction, Perpetual Limited will issue 1 share for every 7.5 Pendal shares plus AUD 1.67 cash for each Pendal share. As of August 24, 2022, Perpetual Limited (ASX:PPT) entered into a binding Scheme Implementation Deed to acquire Pendal Group Limited (ASX:PDL) from a group of shareholders for AUD 2.5 billion. As per the transaction, Perpetual Limited will issue 1 share for every 7.5 Pendal shares plus AUD 1.976 cash for each Pendal share. The cash portion of the transaction will be financed from new debt facility. As on November 16, 2022, transaction terms are revised in which Perpetual Limited now will pay AUD 1.650 per share in cash and 1 share for every 7 Pendal shares. A buy side break fee of AUD 23 million will be payable by Perpetual in case Perpetual breaches the SID to pursue an alternative transaction to the Scheme.
The transaction is subject to due diligence, negotiation and execution of transaction documentation and receipt of all applicable regulatory, court, Pendal shareholders, third party consents and other approvals. As on April 12, 2022, Pendal Group Limited's board unanimously determined that transaction is significantly undervalues the current and future value of Pendal and is therefore not in the best interests of shareholders. As of August 25, 2022, Pendal Group Limited's board unanimously approved and considered this in the best interests of shareholders. As per the update on November 14, 2022, Court made orders to stand over the proceedings to November 16, 2022, and will consider whether the meeting of Pendal shareholders to approve the Scheme should be convened. As of November 22, 2022, Scheme Booklet has been registered with ASIC and the scheme meeting is scheduled to be held on December 23, 2022. As of December 23, 2022, the transaction has been approved by the shareholders of Pendal and remains subject to court approval. As of January 3, 2023, the regulatory approval conditions have now been satisfied and the implementation of the scheme remains subject to the other conditions. The scheme is expected to be implemented by January 23. As of January 11, 2023, the scheme has been approved by the Supreme Court of New South Wales.
The Goldman Sachs Australia Pty Ltd acted as financial advisor and Herbert Smith Freehills acted as legal advisor to Perpetual Limited (ASX:PPT) and Macquarie Capital and Adara Partners acted as financial advisor and King & Wood Mallesons acted as legal advisor to Pendal Group Limited. BofA Securities, Inc. acted as financial advisor to Perpetual Limited (ASX:PPT). Ernst & Young Services Pty Limited acted as Due Diligence Provider to Perpetual Limited (ASX:PPT). Adrian Tan, Michael McKee, Puesan Lam, Emma Kendall, Marina Troullinou and Conor Houlihan of DLA Piper Australia Pty Ltd acted as legal advisor to Perpetual Limited.
Perpetual Limited (ASX:PPT) completed the acquisition of acquire Pendal Group Limited (ASX:PDL) from a group of shareholders on January 12, 2023. Ankündigung • Jan 03
Perpetual Limited Confirms Special Dividend, Payable on 8 February 2023 Perpetual Limited announced that the Regulatory Approval conditions set out in the scheme implementation deed with Pendal Group entered into on 25 August 2022 and amended on 16 November 2022 ("Scheme Implementation Deed") have now been satisfied. The implementation of the scheme remains subject to the other conditions. These Regulatory Approval conditions were a pre-requisite for paying the special dividend announced on the 13 December 2022. The special dividend of $0.35 per share, fully franked, for Perpetual shareholders has a record date of 10 January 2023 and will be payable on 8 February 2023. The Dividend Reinvestment Policy will remain in place for those Perpetual shareholders who have elected to reinvest their dividends.